New Delhi: The Sovereign Gold Bond 2016 Sequence II, initiated in 2016 is due for redemption on 28 March 2024, the Reserve Financial institution of India (RBI) has introduced.
“By way of GOI Notification F.No.4(19) – W&M/2014 dated March 04, 2016 (SGB 2016 Sequence II – Problem date March 29, 2016) on Sovereign Gold Bond Scheme, the Gold Bond shall be repayable on the expiration of eight years from the date of the problem of the Gold Bonds. Accordingly, the ultimate redemption date of the above tranche shall be March 28, 2024 (March 29, 2024 being a vacation),” RBI had mentioned in a launch.
The redemption worth of SGB shall be primarily based on the straightforward common of closing worth of gold of 999 purity of the week (Monday-Friday), previous the date of redemption, as printed by the India Bullion and Jewellers Affiliation Ltd (IBJA), mentioned the RBI.
“Accordingly, the redemption worth for the ultimate redemption due on March 28, 2024 (March 29, 2024 being a vacation) shall be ₹6601/- (Rupees Six thousand 600 and One solely) per unit of SGB primarily based on the straightforward common of closing worth of gold for the week March 18-22, 2024,” the central financial institution added.
Sovereign Gold Bonds 1st Tranche: Worth For The Last Redemption
“Accordingly, the worth for the ultimate redemption due on November 30, 2023 shall be ₹6132/- (Rupees Six thousand 100 thirty-two solely) per unit of SGB primarily based on the straightforward common of closing worth of gold for the week November 20-24, 2023,” the central financial institution added.
What’s Sovereign Gold Bond Scheme?
Sovereign Gold Bond Scheme are authorities securities denominated in grams of gold. They’re substitutes for holding bodily gold. Buyers need to pay the problem worth in money and the bonds can be redeemed in money on maturity. The Bond is issued by Reserve Financial institution on behalf of Authorities of India.
How Is Sovereign Gold Bond Scheme being offered?
The bonds can be offered by scheduled business banks (besides Small Finance Banks and Fee Banks), Inventory Holding Company of India Restricted (SHCIL), designated put up workplaces, and recognised inventory exchanges viz., Nationwide Inventory Trade of India Restricted and Bombay Inventory Trade Restricted.
Who can purchase Sovereign Gold Bond Scheme?
The Bonds can be restricted on the market to resident people, HUFs, Trusts, Universities and Charitable Establishments.
